Yakira Capital Management, Inc Sells 372,000 Shares of Fortune Rise Acquisition Co. (NASDAQ:FRLA) Stock

Fortune Rise Acquisition Co. (NASDAQ:FRLA) major shareholder Yakira Capital Management, Inc sold 372,000 shares of Fortune Rise Acquisition stock in a transaction on Monday, November 4th. The shares were sold at an average price of $11.51, for a total value of $4,281,720.00. Following the transaction, the insider now owns 175,938 shares in the company, valued at $2,025,046.38. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Fortune Rise Acquisition Stock Performance

FRLA remained flat at $11.44 during trading on Wednesday. The company had a trading volume of 12 shares, compared to its average volume of 6,704. Fortune Rise Acquisition Co. has a 52-week low of $10.95 and a 52-week high of $11.87. The firm’s fifty day moving average price is $11.37 and its 200-day moving average price is $11.29.

Institutional Trading of Fortune Rise Acquisition

A number of institutional investors and hedge funds have recently made changes to their positions in FRLA. Tuttle Capital Management LLC acquired a new stake in shares of Fortune Rise Acquisition in the second quarter worth about $1,678,000. Clear Street LLC increased its stake in Fortune Rise Acquisition by 86.1% during the second quarter. Clear Street LLC now owns 251,793 shares of the company’s stock valued at $2,833,000 after acquiring an additional 116,523 shares during the period. Wolverine Asset Management LLC increased its stake in Fortune Rise Acquisition by 32.1% during the second quarter. Wolverine Asset Management LLC now owns 344,113 shares of the company’s stock valued at $3,871,000 after acquiring an additional 83,626 shares during the period. K2 Principal Fund L.P. increased its stake in Fortune Rise Acquisition by 266.8% during the first quarter. K2 Principal Fund L.P. now owns 99,999 shares of the company’s stock valued at $1,111,000 after acquiring an additional 72,738 shares during the period. Finally, Spartan Fund Management Inc. increased its stake in Fortune Rise Acquisition by 172.8% during the second quarter. Spartan Fund Management Inc. now owns 85,399 shares of the company’s stock valued at $961,000 after acquiring an additional 54,099 shares during the period. Institutional investors and hedge funds own 52.89% of the company’s stock.

About Fortune Rise Acquisition

Fortune Rise Acquisition Corporation does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2021 and is based in Clearwater, Florida.